Everland Develops Nearly 5ha Real Estate Project in West Hanoi
By Business Today
Everland, a leading real estate corporation, has recently commenced work on a significant development project in West Hanoi. With a total area of nearly 5 hectares, this venture aims to transform the local landscape and contribute to the region’s urban growth.
A Promising Collaboration
According to the latest consolidated financial report, on August 11, 2023, Everland Corporation (stock code: EVG) transferred 637.5 billion Vietnamese dong to An Khanh JVC, a joint venture company, as a deposit for the partial transfer of the Bac An Khanh New Urban Area project. Situated on plot HH5, covering an area of 48,452 square meters, Everland’s investment in this piece of land amounts to 750 billion Vietnamese dong.
Sky Lumiere Center: The Ambitious Vision
Everland also revealed the anticipated commercial name for this project: Sky Lumiere Center. Spanning 194,592 square meters, this vacant land will be transformed into a mixed-use complex, incorporating commercial, public, service, office, and residential functions. The project aims to offer a harmonious living and working environment for the local community.
Several other enterprises are also joining forces with Everland to bring this vision to life. Notably, Everland has pledged its full rights, assets, and benefits from the deposit contract for the Bac An Khanh project (plot HH5) to secure a long-term loan of 523 billion Vietnamese dong. The credit is valid until August 31, 2026.
Steadfast Performance and Future Prospects
In 2023, Everland recorded impressive revenues of 678 billion Vietnamese dong, with a net profit after tax of 25.5 billion Vietnamese dong. The company’s profitability mainly stems from the transfer of investment portfolios in the Tourism and Luxury Yacht Project during the second quarter of 2023.
As outlined in Everland Corporation’s 2024 Annual General Meeting documents (stock code: EVG), the company has set ambitious targets for the upcoming year. It aims to achieve revenues of 1,250 billion Vietnamese dong and a net profit after tax of 95 billion Vietnamese dong.
An Khanh JVC: A Stellar Development Enterprise
Established in 2008, An Khanh JVC is the developer of the Bac An Khanh New Urban Area, also known as Splendora Bac An Khanh. Situated in Hoai Duc District, Hanoi, this large-scale project spans an impressive area of 264 hectares. The development aims to create a modern and sustainable living environment for residents, enhancing the region’s overall appeal.
For more information about Everland and its projects, visit Business Today. Keep up with the latest news and developments in the world of finance and economics.